Bitcoin Rallies to 2-Week High, Alts Explode

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Bitcoin’s price correction on Tuesday didn’t last long, and the asset flew past a key resistance level and shot up to $116,500 for the first time since September 19.

Many altcoins have followed suit with impressive gains over the past few hours, including ZEC, PUMP, and PENGU.

BTC Rockets Past $116K
As history suggested, bitcoin’s price suffered in September, especially at its end. Recall that the asset slumped from over $114,000 to under $109,000 by September 26 as it charted a multi-week low.

That support managed to hold, and BTC spent most of the weekend trading sideways below $110,000. The bulls finally stepped up on Monday and pushed the cryptocurrency beyond that level to $112,500. After hitting some resistance there, bitcoin went on the offensive once more and neared $115,000 later during the day.

It was stopped there at first and pushed south by over two grand to under $113,000. It stood there for a while, but the actual breakout took place earlier today after the US government shut down.

Bitcoin jumped from that level to a two-week high of over $116,500, charted minutes ago. This surge has pushed its market cap to beyond $2.320 trillion on CG, while its dominance over the alts sits at 56.7%.


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